Greece’s Minister of Finance : “Bitcoin is not capable of ‘powering’ an advanced, industrial society”

A new Minister of Finance has been appointed in Greece a few weeks ago. While that fact may not seem too significant to most of our readers just yet, Yanis Varoufakis – member of Greece’s Coalition of the Radical Left – has formed his own opinion on Bitcoin nearly two years ago. It will be interesting to see if Mr. Varoufakis is still hostile towards Bitcoin and digital currency, or whether his stance has changed over the past 18 months.
‘There can be no de-politicised currency capable of ‘powering’ an advanced, industrial society”
A very interesting quote, coming directly from Yanis Varoufakis himself in April of 2013. He does admit that the ‘Crash of 2008′ made a lot of regular people skeptical of central banks of governments all around the world, which also incur dreaming of a new revolutionary way to make payments and earn back financial freedom. Basically, a currency for the people by the people.
Bitcoin has come to the scene at a very opportune time, as many banks and countries were facing outrage due to the financial crisis. According to Mr. Varoufakis, the hope Bitcoin brings to the hearts and minds of many people is false, simply because there is no way an unsupervised digital currency can become mainstream without oversight.

This post was published at Crypto Articles on February 5, 2015.